Gypsum Market Size, Business Growth Updates, Trends, Industry Report And Forecast To 2033

The gypsum market size has grown rapidly in recent years. It will grow from $35.56 billion in 2023 to $39.8 billion in 2024 at a compound annual growth rate (CAGR) of 11.9%. The growth in the historic period can be attributed to increased mining production and government initiatives for gypsum mine expansion.

The gypsum market size is expected to see rapid growth in the next few years. It will grow to $59.38 billion in 2028 at a compound annual growth rate (CAGR) of 10.5%. The growth in the forecast period can be attributed to increase in demand for plaster of paris and rise in cement production. Major trends in the forecast period include investing in lithium battery-powered gypsum haulers over conventional or diesel-powered mining machinery and equipment, increasing investment, using 3d mine visualizers to obtain a real-time digital model of a mine, focusing on technologies to prevent accidents and improve the safety of miners.

Market Overview -
Gypsum refers to the process of mining gypsum and its compounds which are used in the production of wallboard, cement, plaster of Paris, soil conditioning, and as a hardening retarder in Portland cement.

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Gypsum Mining Market Driven By Surging Demand In Cement Production
A rise in cement production is expected to drive the growth of the gypsum mining market during the forecast period. Cement is one of the most important building materials that sets and hardens to adhere to building units. Gypsum is the main mineral that is added to the cement. It is called the retarding agent of cement as it is mainly used for regulating the setting time of the cement. Without gypsum, cement clinker can condense immediately by mixing with water and releasing heat. For instance, according to the India Brand Equity Foundation, an India-based trust established by the Department of Commerce, Ministry of Commerce and Industry, Government of India, cement production in India increased by 19.4% in June 2022 as compared to June 2021. Therefore, the rise in cement production would promote the growth of the gypsum market.

Competitive Landscape -
Major companies operating in the gypsum market report are Rio Tinto Group, Iluka Resources Limited, FCI Aravali Gypsum and Minerals, zawawi minerals, kunooz oman holding, Rajasthan State Mines and Minerals limited, CHEM-CARB, NMDC Ltd, Uranium Corporation of India Ltd, Hindalco, Vedanta Ltd, Coal India Ltd, Gujarat Mineral Development Corporation Ltd, MOIL, Indian Rare Earths Ltd, Shaanxi Coal and Chemical Industry Group Co Ltd, Henan Yukuang International Mining Investment Co Ltd, Baumineral GmbH, Steag GmbH, Knauf Gips KG, Torralba Group, British Gypsum (St Gobain), ETEX Group, Polska sp. z o.o, Harrison Gypsum, The H Lima Company Inc, Little Salt Creek Gyp Mine, Twisselman Gypsum, Allied Custom Gypsum, National Gypsum, Diamond Gypsum LLC, Pioneer Gypsum Mining Inc, Sumitomo Metal Mining Chile Ltda, Cerro Cazador SA, COMSA, Wasit General Trading LLC, Emirates House General Trading LLC, Awam Group LLC, United Mining Industries Company Limited (UMI), African Queen Mines Ltd, Anglo African Gypsum

Gypsum Mining Companies Embrace 3D Mine Visualizers For Enhanced Productivity And Decision-Making
The gypsum mining companies are using 3D mine visualizers to obtain a real-time digital model of a mine. A 3D mine visualizer generates a three-dimensional model of the mine layout and transfers it directly to the operator. With a web-based interface, information about the model is available with any connected device. It offers full recording and playback capabilities in 3D, allowing operators to review and analyze historical data to improve productivity and identify best practices. 3D mine visualizers significantly enhance the productivity of large mining environments. It is a valuable tool in operations planning, analyzing problematic areas, and tracking mine development over time. For instance, companies such as Sandvik and Komatsu are offering 3D visualizer systems. In July 2021, Tech Soft 3D, a US-based software company introduced its HOOPS Visualize, a graphics engine for the MineRP Platform that delivers powerful 3D visualization capabilities to easily visualize very large and complex geological models, providing users with insights for better and profitable decisions in mine planning and execution.

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Key Segments -

The gypsum market covered in this report is segmented -

1) By Application: Gypsum For Construction, Agricultural Gypsum, Other Gypsum
2) By Mining Type: Underground Mining, Surface Mining

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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